MIRA INFORM REPORT

 

 

Report Date :

17.11.2011

 

IDENTIFICATION DETAILS

 

Name :

GLOBAL EMB-TECH PTE LTD

 

 

Registered Office :

209 Henderson Road #01-02 Henderson Industrial Park Singapore 159551

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

08.01.1998

 

 

Com. Reg. No.:

199800116E

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

Wholesale of Sewing and Clothing Accessories

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

S$11,000

 

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints  

 

 

Litigation :

Clear

 

 

NOTES:

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Singapore

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

                                                                                    


Executive Summary

 

Company Name

:

GLOBAL EMB-TECH PTE LTD

Registration No

:

199800116E

Date of Registration

:

08/01/1998

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

209 HENDERSON ROAD #01-02 HENDERSON INDUSTRIAL PARK SINGAPORE 159551

Date of Change of Address

:

NA

Contact No.

:

6377 1171

Fax No.

:

6377 2272

Website

:

NA

Registered Activities

:

WHOLESALE OF SEWING AND CLOTHING ACCESSORIES (EG BUTTON, THREAD, LACE, ZIP)

Issued Ordinary Capital*

:

$100,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 100,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$100,000.00 SINGAPORE, DOLLARS

Paid-Up Preference Capital

:

NA

* Number of Shares includes number of Issued Treasury Shares

Issued Treasury Capital

:

NA

Paid-Up Treasury Capital

:

NA

No. of Local Subsidiaries

:

NA

No. of Local Associates

:

NA

Auditor

:

MJMA PAC

Bankers / Financiers

:

THE DEVELOPMENT BANK OF SINGAPORE LIMITED

Turnover

:

SINGAPORE, DOLLARS 10,374,201.00

Net Worth

:

SINGAPORE, DOLLARS 226,745.00

No. of Bank Charges

:

1

No. of Litigation Suits

:

NA

S1000 / SME 500 / FG50 Ranking

:

No found for SINGAPORE 1000 and SME 500

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$11,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

MR NOBORU ITO

SHAREHOLDER ID

:

F0389746W

NATIONALITY

:

JAPANESE

ADDRESS

:

10 DOVER RISE #18-03 HERITAGE VIEW SINGAPORE 138680

NO. OF ORD SHARES

:

90,000

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LIM POH KHIEM JENNY

SHAREHOLDER ID

:

S1493928H

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

12 PARRY WALK PARRY PARK SINGAPORE 547030

NO. OF ORD SHARES

:

10,000

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

MR NOBORU ITO

ADDRESS

:

10 DOVER RISE #18-03 HERITAGE VIEW SINGAPORE 138680

POSITION

:

DIRECTOR

DATE OF APPT

:

08/01/1998

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

F0389746W

 

NAME

:

TAN HONG CHUAN

ADDRESS

:

1 TAMAN SERASI #05-07 BOTANIC GARDENS VIEW SINGAPORE 257717

POSITION

:

SECRETARY

DATE OF APPT

:

29/11/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0198970G

 

NAME

:

MAH BENG GUAN

ADDRESS

:

59 LORONG K TELOK KURAU SINGAPORE 425669

POSITION

:

SECRETARY

DATE OF APPT

:

02/02/1998

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0563845C

 

NAME

:

LIM POH KHIEM JENNY

ADDRESS

:

12 PARRY WALK PARRY PARK SINGAPORE 547030

POSITION

:

DIRECTOR

DATE OF APPT

:

08/01/1998

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1493928H

 

KEY PERSONNEL PROFILE

 

Name:

MR NOBORU ITO

NRIC Number:

F0389746W

Available Address:

10 DOVER RISE #18-03 HERITAGE VIEW  SINGAPORE 138680

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

GLOBAL EMB-TECH PTE LTD

DIRECTOR

08/01/1998

90000

90.00

2

MASA TELECOM ASIA INVESTMENT PTE LTD

DIRECTOR

22/09/1996

-

-

3

TAJIMA ASIA PTE LTD

DIRECTOR

12/09/1990

90000

90.00

4

TAJIMA ASIA PTE LTD

MANAGING DIRECTOR

08/11/1990

90000

90.00

5

X'PAN HOLDING PTE LTD

DIRECTOR

06/08/1997

150000

50.00

6

X'PAN SALES PTE LTD

DIRECTOR

08/05/1985

5000

50.00

7

X'PAN TRADING PTE. LTD.

DIRECTOR

02/02/1990

135375

90.25

8

X'PAN TRADING PTE. LTD.

MANAGING DIRECTOR

08/02/1990

135375

90.25

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

MASA TELECOM ASIA INVESTMENT PTE LTD

LIVE COMPANY

SHAREHOLDER

-

14/06/2010

 

Bankruptcy Record

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

 

KEY PERSONNEL PROFILE

 

Litigation Search – Writ of Summons

 

Court

Case No.

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

NA

 

 

                                                                                                                       

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 1 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

199804808

 

Date of Registration

:

17/09/1998

 

Chargee

:

THE DEVELOPMENT BANK OF SINGAPORE LIMITED

 

             

LITIGATION

 

Clear                                           

                                                           

           

COMPLIANCE RECORDS

 

Date of Last AGM

:

30/06/2010

Date of Last AR

:

30/07/2010

Date of A/C Laid At Last AGM

:

31/12/2009

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2005

% Change

DEC 2004

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

Turnover

10,374,201

22.42

8,474,220

Profit/(Loss) Before Tax

257,575

NA

(164,013)

Profit After Tax attributable to Shareholders

257,575

NA

(172,484)

 

 

 

 

Balance Sheet Key Figures

 

 

 

Total Assets

4,024,859

-4.35

4,207,926

Current Assets

4,024,848

-4.35

4,207,915

Non Current Assets

11

0.00

11

 

 

 

 

Total Liabilities

3,798,114

-10.40

4,238,756

Current Liabilities

3,793,114

-10.41

4,233,756

Non Current Liabilities

5,000

0.00

5,000

 

 

 

 

Shareholders' Funds

226,745

635.47

30,830

Share Capital

100,000

0.00

100,000

Total Reserves

126,745

NA

(130,830)

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2005

DEC 2004

Growth %

 

 

Year-on-Year Growth

22.42

NA

 

 

 

Profitability

 

 

Profit Margin (%)

2.48

NA

Return on Equity (%)

113.60

NA

Return on Assets (%)

6.40

NA

 

 

 

Leverage

 

 

Total Debt/Equity (Times)

16.75

137.49

Current Debt/Equity (Times)

16.73

137.33

Long Term Debt To Equity (Times)

0.02

0.16

Total Asset To Total Equity (Times)

17.75

136.49

 

 

 

Asset Management

 

 

Total Assets Turnover (Times)

2.58

2.01

Fixed Assets Turnover (Times)

943,109.18

770,383.64

 

 

 

Liquidity

 

 

Current Ratio (Times)

1.06

0.99

 

 

FINANCIAL COMMENTARY

 

Profitability

The company yielded a rate of net profit on sales of 2.48 per cent in FY05. The company is now able to book in SINGAPORE, DOLLARS 0.02 of profit for every SINGAPORE, DOLLARS of sales.

 

 

Liquidity

 

Current ratio stood at 1.06 times in FY05 (FY04: 0.99 times). This means that the company has SINGAPORE, DOLLARS 1.06 of current assets for every SINGAPORE, DOLLARS of current liability incurred.

 

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

 

 

Leverage

Total debt-to-equity ratio notched 16.75 times in FY05, compared with 137.49 times in FY04. This means that the company requires additional external financing of SINGAPORE, DOLLARS 16.75 for every SINGAPORE, DOLLARS injected into its operations.

 

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

 

Efficiency Ratio

 

 

 

Return on equity was 113.60 per cent for Subject in the current financial period. The return on equity measures the return earned on the owner's investment.  Generally, the higher this return, the better off the owner.

 

Return on assets stood at 6.40 per cent. The return on asset measures the overall effectiveness of management in generating profit with its available assets.

 

Total assets turnover ratio logged at 2.58 times in FY05 (FY04: 2.01 times). This ratio measures the company's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.90

UK Pound

1

Rs.80.30

Euro

1

Rs.68.48

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.